Cancer immunotherapy has been emerging as a new avenue for revenue
generation for pharmaceutical companies. In addition, adverse effects,
such as recurrence of cancer and organ failure, associated with
conventional chemotherapies and rising demand for technologically
advanced healthcare solutions are boosting demand for immunotherapy.
Moreover, introduction of newer drug classes, such as target receptors
for multiple myeloma and checkpoint inhibitors, is expected to initiate
introduction of advanced therapeutics in the market.

Furthermore, increase in number of approvals for new immunotherapeutic
drugs is driving the global market. Introduction of new molecules has
been proving to be beneficial for patients who are not responding to
chemotherapy. Several new immunotherapeutic options, such as
immunomodulators and CAR-T cell therapy, are in the pipeline and are
being tested for their ability to provide better cancer treatment.

Monoclonal antibodies are the most widely used immunotherapeutic drugs
globally. Development of monoclonal antibodies as effective
immunotherapeutic options started after the approval of Blincyto
(blinatumomab) by Amgen, a bispecific antibody that targets B-cell
lymphoblastic leukemia. Increasing investments in R&D pertaining to use
of monoclonal bodies as naked antigen binding antibodies, conjugated
monoclonal antibodies, and bispecific antibodies have resulted in
discovery of new therapeutic options for cancer treatment. Technological
advancements, such as radiation and nanoparticle therapies, are boosting
the cancer immunotherapy market. Majority of cancer immunotherapy drugs
have been used in treatment of non-small cell lung cancer, breast
cancer, and prostate cancer.

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